Billionaire Soros buys stake in Spanish builder FCC - source

MADRID Jan 3 Billionaire financier George Soros
has bought a 3.1 percent stake in FCC, a source
familiar with the matter said on Friday, in a further boost for
the indebted Spanish builder already backed by Microsoft
founder Bill Gates.

The stake - bought from the company's biggest shareholder
Esther Koplowitz, whose daughter chairs the company - is partly
held via derivative contracts and also through two funds
associated with Soros, the source said.

FCC declined to comment.

FCC shares rallied last week on reports of Soros's
involvement, which follows Gates's purchase of a 6 percent stake
in FCC in October.

The renewed interest in the building group underlines
investor optimism for an economic turnaround in Spain, which
exited a prolonged recession in the third quarter of 2013.

FCC shares were up 5.4 percent at 17.15 euros ($23.4) at
12.10 GMT.

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